Supply chain bottlenecks have been eliminated from the catalysts for the 40-yr high inflation environment of 2022. The Fed has been hiking rates in the most agressive way, but the real cause of inflation isn't solved because container freight prices are collapsing. Therefore, Wall Street does feel the need to hedge for sustained inflation for the first time since...
SPY has entered a correction wave. Target is 400. We can go lower if the wave extends. Inflation is at a 40 year high. We need to raise rates asap. Bulls are salmon right now swimming against the current into the bears mouth. We broke a huge trend and remember the trend is your friend until the end.
The IWM has completed It's classic Wyckoff Distribution and we are now at Phase E. The target is 170-169 where we have found support. This is a warning for the entire Stock Market to abandon ship while you still can. The IVM is the Titanic and has hit the ICEBERG. We don't have enough boats to save everyone. People will be left on the ship stuck at all time...
BTC got rejected at the 20 EMA and broke down a bearish rising wedge. We were not able to get above the 0.618 fib to reclaim a higher price. I expect it to go down more.
As you see on the Chart back in March SPDR Gold Trust had a double bottom and it took it 63 day to reach the target. We have the similar thing happening with a double bottom and take profits are in the top box.
Gold has formed a Bull Flag and should breakout above the HMA at 1769. My target is 1820. Inflation is real and not "transitory".
Bitcoin's Batwing will bring it's price action to 31k where it will bounce to 42k and then it will fall again. Rinse and repeat my friends.
Gold is doing an Gartley Pattern A,B,C,D,E. Buy at D - 1680
If you can see BTC follows the HMA set to 104 which is 2 years. BTC rides it all the way up until it gets broken. No volume on this pump from 30k to 52k which means the BIG Whales manipulated the market. This is one big Bearish Descending Triangle pattern with a measured move from the middle of the wedge that will end with BTC the target ranges between 19k-10k.